Federal Bank's net interest income (NII) in Q3FY19 came in at Rs1,077cr, up 13.4% yoy vs Rs950cr reported in the same quarter of the previous fiscal. At Rs333.6cr, up 28.3% yoy against Rs260cr last year, the bank’s net profit in the quarter was in line with the consensus estimates. Its GNPA for Q3FY19 has improved 3bps to 3.14%. NNPA for the quarter came in at 1.72% against 1.78% qoq, a decrease of 6bps. Net interest margin (NIM) for the quarter came at 3.17% as against 3.15% qoq and 3.3% yoy.
Total advances for the quarter increased 25% yoy.
Provisions for the quarter decreased 34.2% yoy to Rs190cr for the quarter.
Slippages for the quarter were reported at Rs435cr as against Rs477cr qoq.
SME slippages for the quarter came in at Rs192cr vs. Rs169cr qoq.
There is no regulatory divergence in asset portfolio as per the management.
Federal Bank Ltd share price is currently at Rs89.55, down Rs1.85, or 2.02%, from its previous close of Rs91.40 on the BSE. The scrip opened at Rs91.95 and has touched a high and low of Rs92.80 and Rs89.50, respectively. So far, 2,05,13,803 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 50-DMA.
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